Telstra scoops $1bn CBA telco services deal

Under the contract, Telstra will provide telecommunications and managed services covering CBA branches, contact centres, the EFTPOS network and non-branch ATMs.

The contract also covers provision of "converged communications", according to a statement released by both companies today.

Telstra will supply services running off both its Next IP and Next G networks.

The contract is worth up to $100 million per year over ten years to Telstra and forms part of the CBA's smart sourcing strategy, the bank said.

Gen-i previously held the contract for managing network services for CBA.

It will "continue to work on a range of network services and remains a strategic support to [CBA]", the bank said.

CBA CIO Michael Harte said choosing a new partner for the provision of telecommunication services was a strategic part of its network upgrade.

"Our arrangement with Telstra is a partnership which is directly focused on customer satisfaction through well-defined shared goals, commitments and business outcomes," he said.

"This is the first time we have struck a deal of this kind."